Bank of India filed an original application for recovery of dues. The Tribunal held the unrebutted evidence of the bank sufficient. The claim was allowed along with future interest at 10% and permission to sell mortgaged property.
Recovery of Rs. 2,04,68,497.27 with future interest @ 10% p.a.; charge on mortgaged property directed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Presented on: 14.12.2024 Registered on: 07.01.2025 Decided on: 16.04.2026 Duration: Y M D 01 04 02
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 11/2025
TOTAL CLAIM AMOUNT – Rs. 2,04,68,497.27/-
Bank of India, A Body Corporate constituted under
the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970, Having its Head Office at
Star House, “C-5”, G-Block, Bandra Kurla Comples, Bandra (East), Mumbai 400051, Maharashtra, India in the State of Maharashtra and its Branch office inter alia at Shendra Industrial Estate Branch, Tal. And
Dist. Chhatrapati Sambhajinagar through its … Applicant Authorized officer Mr. Vitthal Onkar Chavan Occ.: Chief Manager, Add.:- Shendra Industrial Estate Branch, Chhatrapati Sambhajinagar (Aurangabad).
Versus
(OA No.11/2025)
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[AMBADAS]
1. M/s. Libertypaint Coating India Pvt. Ltd. Reg. Add. C/o. office No. R4, T-15-302, Amanora Park Town, Hadapsar, Pune, Maharashtra-411028. Factory Add.: C-9/10 MIDC, Chikalthana, Aurangabad-431001
2. Ritesh Dilipchand Bora Age: Major, Occ.: Director., R/o.: Hiralal Chowk, Beed, Maharashtra-431122.
…Defendants
3. Abhijit Vasant Patil Age: Major, Occ.: Director., R/o.: Flat No. G-6B, Chaitanya Apartment Co-op. Housing Society Limited, Caranzalem, North Goa-403002.
4. Virendra Mohanlal Chouksey Age: Major, Occ.: Director., R/o.: Flat No. 8 Behind R K Hospital. Ashirwad Apartments, Inderpuri C-Sector Huzur H.E. Hospital Bhopal, MP-462024.
5. Mangal Dilipchand Bora Age: Major, Occ.: Household, R/o.: Hiralal Chowk, Beed, Maharashtra-431122.
6. Varsha Sunilchand Bora Age: Major, Occ.: Business., R/o.: At Juni Bhaji Mandai Hiralal Chowk, Beed Maharashtra - 431122.
7. Roshan Sunilchand Bora Age: Major, Occ.: Business.,
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[AMBADAS]
R/o.: At Hiralal Chowk Peth Beed Maharashtra - 431122.
8. Ronak Sunilkumarji Bora Age: Major, Occ.: Business., R/o.: Near Atul Mangal Karyalay, Ganesh Nagar, Jalna Road, Beed Maharashtra - 431122.
9. Sunil Indarchand Surana Age: Major, Occ.: Business., R/o.: At Main Road Murud, Murud Latur-413510.
10. Vaishali Sunil Surana Age: Major, Occ.: Business., R/o.: At New Colony Murud Main Road, Near Sagar Light House Murud Bk. Latur-431510.
APPEARANCES
For the Applicant For Defendants
Mr. Eshwar K. Mohite Advocate Ex-parte
JUDGMENT
Delivered on 16.04.2026
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[AMBADAS]
date of filing of the Original Application, i.e., 14.12.2024, until the date of realization of the entire outstanding dues from the Defendants.
Brief facts of the application are as under:
4502/2023 dated 04.10.2023. Additionally Defendant No. 2 to 10
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stood as guarantors for Defendant No.1 and executed a Deed of
Guarantee in favour of the Applicant Bank.
of the Applicant Bank. The mortgage was created in respect of the
following property –
All that piece and parcel of House No. 1-6-401 (Old) 1-6-253 (New), Plot No.:15, CTS No. 2453 (Part), Survey No.: 94 (Taraf Giram), Jagdamba Co-op Housing Society, Shahunagar, Beed, Jalna Road, Tal., Dist. Beed, Maharashtra-431122, admeasuring plot area 212.92 Sq. Meter., Built up area of G+1 floor 3799.78 sq. ft, which is bounded as under: East :- Plot No. 14 from same layout, West :- Plot No. 16+ from same layout, South:- Open Space from the same layout, North: - Road of 6 Mt. width from the same layout.
keep their promise and commitments agreed by them with regard
to due repayment of the loan amount. The defendants failed to
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operate the loan account properly and failed to pay the agreed rate of interest as per terms and conditions of the sanction letter. Thereafter, the applicant bank repeatedly made demand of loan amount and called upon the defendants to pay with the agreed rate of interest thereon, but the defendants failed and neglected to pay the same. The loan account of the defendant became irregular and classified as NPA on 28.10.2024. Therefore on 04.11.2024 the applicant bank issued legal notice to the defendants through their advocate. Despite service of Notices, the defendants failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.
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documents as Annexure A to F as per list of documents Exh.05 which corroborates the case of the applicant Bank.
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ORDER
All that piece and parcel of House No. 1-6-401 (Old) 1-6253 (New), Plot No.:15, CTS No. 2453 (Part), Survey No.: 94 (Taraf Giram), Jagdamba Co-op Housing Society, Shahunagar, Beed, Jalna Road, Tal., Dist. Beed, Maharashtra-431122, admeasuring plot area 212.92 Sq. Meter., Built up area of G+1 floor 3799.78 sq. ft, which is bounded as under:
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East :- Plot No. 14 from same layout, West :- Plot No. 16 from same layout, South:- Open Space from the same layout, North: - Road of 6 Mt. width from the same layout.
(D) The applicant Bank is entitled to sell the mortgaged immovable property and hypothecated articles/goods etc., to recover its dues.
(E) Issue Recovery Certificate accordingly.
(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and defendants.
(G) File be consigned to the record room.
Sd/-
Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:.16.04.2026 Debts Recovery Tribunal, Aurangabad
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1 issue framed by the court
Whether the respondents are liable to pay the claimed amount with future interest.
Bank of India
M/s. Libertypaint Coating India Pvt. Ltd.
Ritesh Dilipchand Bora
Abhijit Vasant Patil
Virendra Mohanlal Chouksey
Mangal Dilipchand Bora
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
